Why will excess mortgage costs only be covered for the first 12 months?

Why will excess mortgage costs only be covered for the first 12 months?

Answer

Posted by Lambeth Council5sc on November 15, 2016

Homes for Lambeth cannot afford to subsidies your costs indefinitely; there therefore needs to be a time limit to this offer. You will be living in a good quality new home, which should have lower energy, water and service charge costs (see Q&A on Living Costs), which will also help to offset any increased mortgage costs, if they were to arise.